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Redemption of Preference share

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(Querist)
10 November 2010 Please tell me Whether there will be any Tax Impliaction if Prefernce share redeemed by company which is issued to one of the group of company at the par now also reddemed at par
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Rasesh

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Rasesh (Expert)
10 November 2010 No Tax Implications if both issue and redemption is done at same value.
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taxindiaconnect

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taxindiaconnect (Expert)
10 November 2010 Agreed
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shanky budhiraja

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shanky budhiraja (Querist)
11 November 2010 but what about Sec 56(viia.

How should I Compute Preference share Fair Market Value

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